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Divorced and have a quit claim given to me and I want to give it to grandson.

2006-08-02 10:51:12 · 5 answers · asked by SS 2 in Business & Finance Renting & Real Estate

Concerning quit claim. So I get a deed written up and give to grandson ? I will pay taxes for him as it is only a small piece of land on roadside in the country. I am 72 years old woman and appreciate your answers. Actually not worth much just a token for a 20yr old.

2006-08-02 11:48:46 · update #1

I bought this piece of property in 1981for $850.
I was given a Warranty Deed with relinguishment of power, with stamps, recorded with Circuit Court,when I bought the lot .. I was married at the time. Divorced and was given a Quit Claim by X ,signed and notarized .He is now deceased. I have been paying taxes on it, only $6.00 a year and want to give it to grandson. What do I have to do? I felt I did not make my self clear, reason to write again. I do not want to spend a lot of money as I am 72 yrs and watch my pennies. Thank you for your advice. I was just going to quit paying taxes on it and forget about about it but asked him how he would like to be a property owner. Got a smile out of him.
It is in a community area that is slowly dying or dead. but who knows? It is about 3 miles from a state park in White Oak Lake, Arkansas.

2006-08-03 06:50:30 · update #2

5 answers

Because you have a quit claim deed doesn't mean you own the property. It means that the person who signed the quit claim relinquishes and gives to you all their interest in the property. (They could have NO interest in the property and still give you a quit claim for it.)
Yes you can quit claim it to your grandson but that doesn't mean he owns anything either. It only means that he'll own whatever interest in the property that was yours to give.
If, in fact, you own the property free and clear and want to give it to him, you'll use a deed, not a quit claim.

2006-08-02 11:09:28 · answer #1 · answered by DelK 7 · 0 0

A Quit Claim Deed simply says whatever interest you may or may not have in a piece of real estate, you are granting without warranties to it's marketability, that interest and will not come back to the grantor and ask for anything for it. You can sign a Quit Claim Deed to anyone on any property whether you own it or not. By giving one to your grandson, he is only getting what you had, if anything. Keep in mind, you may have to pay state deed tax and recording fees.

2006-08-02 11:07:33 · answer #2 · answered by larry r 3 · 0 0

A quitclaim deed say's you are absorbing every thing that the grantors had before he quitclaim it to you mortgages,notes encrochment etc,etc,my suggestion have a title run onthe property you can get one done in most states for around a $100 bucks

2006-08-02 11:35:56 · answer #3 · answered by howaboutit99@sbcglobal.net 2 · 0 0

You should have the property surveyed and recorded at the county courthouse by a licensed professional land surveyor, if you can possibly afford it, for the sake of security.

2006-08-04 18:00:27 · answer #4 · answered by Surveyor Extraordinaire :-) 2 · 0 0

IF SOMEONE QUIT CLAIMS THEIR INTEREST IN THE PROPERTY AND THEY HAD A CABIN BUILT ON THE PROPERTY DOES THAT GO WITH THE QUIT CLAIM?

2015-08-07 14:16:11 · answer #5 · answered by Frank 1 · 0 0

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